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List of Forms

Table of Contents

Chapter 1 — Basic Nature of the Land Trust

Chapter 2 — Documentation of the Land Trust

Chapter 3 — Land Trust Legal Attributes

Chapter 4 — Land Trust Administration

Chapter 5 — Transactions in Land Trust Property

I. [5.1] Introduction — Basic Legal Guidelines

II. Sales Contracts

[5.2] Types of Contracts

[5.3] Drafting Considerations

[5.4] Conveyance of Title by Trustee: Form

[5.5] Contracts by Beneficiary To Convey Title: Forms

[5.6] Assignment of Beneficial Interest; Form of Contract for As-signment; Form of Trustee’s Certification; Statute of Frauds

[5.7] Vulnerability of Assignment

[5.8] Articles of Agreement; Installment Contracts; Form

[5.9] Closing Procedures

[5.10] Option Agreements: Form

[5.11] Exchange Transactions

[5.12] Land with Construction

[5.13] Land Trustee as Purchaser

[5.14] Broker’s Listing Agreement

[5.15] Development Agreements

[5.16] Conversion by Contract

III. Leases

[5.17] In General

[5.18] Drafting Considerations

[5.19] Three-Party Commercial and Industrial Lease: Form and Explanation

[5.20] Beneficiary Form of Leases

[5.21] Residential and Apartment Leases

[5.22] Land Trustee as Lessee

[5.23] Enforcement of Leases

IV. Financing

[5.24] Introduction

[5.25] In General

[5.26] The Mortgage Note: Form

[5.27] The Trust Deed; Form of Trust Deed; Waiver of Redemption Form

[5.28] Waiver of Redemption Provision

[5.29] Amount of Indebtedness

[5.30] Conveyance of Title by Debtor to Creditor upon Default

[5.31] Due on Sale Clauses

[5.32] Assignment of Rents: Form

[5.33] Beneficiaries’ Personal Guarantee: Form

[5.34] Summary

[5.35] Basic Legal Aspects

[5.36] Applicability of Illinois Mortgage Foreclosure Law

[5.37] Uniform Commercial Code Applicability

[5.38] Preliminary Considerations

[5.39] Documenting the Transaction: Explanation and Forms

[5.40] Note or Obligation

[5.41] Financing Statement

[5.42] Security Agreement

[5.43] Assignment of Beneficial Interest

[5.44] Assignment to secure loan (specific obligation)

[5.45] Combined form, assignment and security agreement

[5.46] Some characteristics of the collateral assignment

[5.47] Filing requirements; facsimile

[5.48] Homestead exemption

[5.49] Closing Procedures

[5.50] Torrens Property

[5.51] Usury

[5.52] Procedure upon Payment

[5.53] Procedure upon Default

[5.54] Default Procedures Under the Illinois Mortgage Foreclosure Law

[5.55] Procedure in Probate

[5.56] Additional Considerations

[5.57] Use of Unsecured Notes: Explanation and Form

V. Insurance

[5.58] General Considerations

[5.59] Fire and Extended Coverage

[5.60] Boiler and Explosion

[5.61] Rental Income

[5.62] Public Liability

[5.63] Dram Shop Coverage

VI. Easements, Party Wall, and Covenant Agreements

[5.64] General Considerations

[5.65] Form of Easement, Building Line, and Restrictive Covenant Agreement

Chapter 6 — Litigation Involving Land Trust Property

Chapter 7 — Tax Aspects of Land Trust Usage

Chapter 8 — Extended Uses of Land Trusts

Appendix

Authors

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Kenoe on Land Trusts (Classic 1989 EDITION)

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